The British Business Bank Equity Tracker Report 2023 found female founders were less likely to secure funding for their businesses, and faced gender bias.
Dr Thomas added, anecdotally, she knew of women who had “taken off their wedding ring”, or removed their “lockdown social media”, to hide their family life from potential investors.
Data from Longitudinal Small Business Survey 2023, run by the UK government’s Department for Business and Trade, showed 16% of small and medium sized enterprises (SME) employers in Wales reported being women-led.
Business Wales said it was committed to supporting a culture of entrepreneurship and supporting female entrepreneurs to start and grow businesses.
The service has supported 3,995 start-ups led by female entrepreneurs since 2016, which is 55% of all businesses supported.
“Business Wales has also helped 6,499 existing female-led businesses with their development and growth plans over the same time – which is 46.8% of all businesses supported,” a spokesperson added.
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